NorthMarq Capital’s Los Angeles office finalizes $16 million refinance for a large distribution/warehouse facility in Rancho Dominguez, California
Distribution/Warehouse Facility
LOS ANGELES (April 7, 2016) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles regional office arranged the $16 million refinance of a 356,642 sq. ft. industrial distribution/warehouse facility located at 19801 South Santa Fe Avenue in Rancho Dominguez, California. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arrange financing through its relationship with a life insurance company, who provided a six month forward commitment that allowed the borrower to lock the interest rate during a volatile interest rate period. The single tenant building is leased to Port Logistics. “With the good quality building and strong, experienced borrower, the lender was able to provide 10-year financing with no special structure even though this is a single tenant building with lease rolling during the loan term,” explained Hervey.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
